(1) No foreclosure sale involving real property other than a one-family to 4-family residence that is owner-occupied at the commencement of the foreclosure action, a farm, a church, or a tax-exempt nonprofit charitable organization may be held until the expiration of 6 months from the date when the judgment is entered except a sale under sub. (2). Notice of the time and place of sale shall be given under s. 846.16 (1) and may be given within the 6-month period, except that the first printing of the notice shall not be made less than 4 months after the date when the judgment is entered.
846.103.Foreclosures of commercial properties and multifamily residences.
Ch. 846: Real Estate Foreclosure · Last amended 2017 · Last verified July 15, 2026
In one sentenceSection 846.103 sets a default 6-month wait before selling foreclosed commercial and multifamily property that does not qualify for Section 846.10’s timelines, and lets the plaintiff shorten that to 3 months by electing to waive any deficiency judgment.
Full Text of Section 846.103
(2) If the mortgagor of real property other than a one-family to 4-family residence that is owner-occupied at the commencement of the foreclosure action, a farm, a church, or a tax-exempt nonprofit charitable organization has agreed in writing at the time of the execution of the mortgage to the provisions of this section, the plaintiff in a foreclosure action of a mortgage, which mortgage is recorded subsequent to May 12, 1978, may elect by express allegation in the complaint to waive judgment for any deficiency that may remain due to the plaintiff after sale of the mortgaged premises against every party who is personally liable for the debt secured by the mortgage, and to consent that the mortgagor, unless he or she abandons the property, may remain in possession of the mortgaged premises and be entitled to all rents, issues, and profits therefrom to the date of confirmation of the sale by the court. When the plaintiff so elects, judgment shall be entered as provided in this chapter, except that no judgment for deficiency may be ordered nor separately rendered against any party who is personally liable for the debt secured by the mortgage and the sale of the mortgaged premises shall be made upon the expiration of 3 months from the date when the judgment is entered. Notice of the time and place of sale shall be given under s. 846.16 (1) and may be given within the 3-month period, except that the first printing of the notice shall not be made less than one month after the date when the judgment is entered.
Plain-English Summary
Section 846.103 is the counterpart to Section 846.10 for property that is not an owner-occupied one-family to four-family residence, a farm, a church, or a tax-exempt nonprofit charity, which in practice covers commercial buildings and larger multifamily residences. Unless the election in subsection (2) applies, no sale can happen until 6 months after judgment, with notice given under Section 846.16(1) and first printing no earlier than 4 months in.
Subsection (2) offers a faster path, mirroring Section 846.101. If the mortgagor agreed in writing at the time the mortgage was signed, and the mortgage was recorded after May 12, 1978, the plaintiff can elect, by allegation in the complaint, to waive any deficiency judgment and let the mortgagor remain in possession and keep the rents, issues, and profits until confirmation. Judgment then follows the chapter’s usual rules except that no deficiency judgment can be ordered, and the sale can happen as soon as 3 months after judgment, with first printing no earlier than 1 month in.
Frequently Asked Questions
Does Section 846.10’s timeline for owner-occupied homes apply to a foreclosed apartment building or commercial property?
No, Section 846.103 governs those instead, with its own default 6-month wait before sale.
How long does a lender wait before selling foreclosed commercial or multifamily property in Wisconsin?
6 months from judgment by default, with the first notice printing no earlier than 4 months after judgment.
Can a commercial foreclosure sale happen faster than 6 months?
Yes, if the mortgagor agreed in writing when the mortgage was signed and it was recorded after May 12, 1978, and the plaintiff elects to waive the deficiency judgment: the sale can happen after 3 months.
What does the property owner get if the plaintiff waives the deficiency judgment under this section?
The right to remain in possession and keep the rents, issues, and profits until the sale is confirmed, unless the owner abandons the property.
Does this section apply to a foreclosure on the house I live in?
No, it excludes owner-occupied one-family to four-family residences, farms, churches, and tax-exempt nonprofits, which are covered instead by Sections 846.10, 846.101, and 846.102.
Amendment History
History: 1977 c. 304; 2015 a. 376; 2017 a. 104, 208.
Source & verification. Section text and official notes are
reproduced verbatim from the Wisconsin Statutes, published by the
Wisconsin Legislature (Legislative Reference Bureau). Last verified July 15, 2026.
· Official source
Also known as: wisconsin commercial property foreclosure timelinemultifamily foreclosure wisconsin846.103 wisconsin statutenon owner occupied foreclosure sale wisconsin